Bearish flow noted in Coherent (COHR) with 2,469 puts trading, or 1.3x expected. Most active are 3/28 weekly 60 puts and 3/28 weekly 52 puts, with total volume in those strikes near 1,000 contracts. The Put/Call Ratio is 1.63, while ATM IV is up over 3 points on the day. Earnings are expected on May 6th.
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